How do you take mental preparation for trading Forex?

[Alexis_0]

Mental preparation will make you capable of trading because Forex is a tricky market. To catch the slithery movement of Forex, you have to be an expert at market analysis.

 

[Waylen]

Actually I don’t trade when I am in stress and when I feel jolly and mentally prepared, I go for trading.

 

[mikeriley]

Mental preparation will make you capable of trading because Forex is a tricky market. To catch the slithery movement of Forex, you have to be an expert at market analysis.

Meditation and focus on my trading plan. (Plan is kept on the screen while trading)
Effective market analysis helps me to avoid the tricks.

 

[themickey]

How do you take mental preparation for trading Forex?

I found it helps to hold your breath, Grit your teeth, close your eyes, clench your fists, cross your legs so you don't piss, wear a nappy so you don't soil your pants.
Additionally get your doctor to prescribe metoprolol tartrate. (Slows and evens the heart rate)
Would probably be a start.

 

[hilmy83]

Mental preparation will make you capable of trading because Forex is a tricky market. To catch the slithery movement of Forex, you have to be an expert at market analysis.

 

[Handle123]

Forex is no more tricky than trading ES or coffee or crude oil, comes down to having well prepared trading plan and years worth of live demo. Triple $5000 three separate times and one has best chances of starting real time profitable. Anything less most likely be another losing failed attempt.

 

[schizo]

Mental preparation will make you capable of trading because Forex is a tricky market. To catch the slithery movement of Forex, you have to be an expert at market analysis.

Everything is already baked in the price. Learn to read the chart, by which I mean you are reacting and not necessarily predicting the price.

 

[SunTrader]

To catch the slithery movement of Forex, you have to be an expert at ....

 

[PPC]

Mental preparation will make you capable of trading because Forex is a tricky market. To catch the slithery movement of Forex, you have to be an expert at market analysis.

Being expert at market analysis and (consistently) making money are two entirely different things.

Mental preparation is useful, but then again, many people choke when it comes to executing and managing traders properly.

If your trading methodology is aligned with your own personal beliefs on how the market works, and if on top of that you’ll be if you executing/managing your trades from acceptance that anything can happen next, then your trading will become a whole lot easier.

Understand that trading is about risk management, and if you can manage risk and have positive expectancy, then the stress goes away. (proper risk management won’t let fear/greed screw up your trades)

Your post seems to imply that you don’t fully trust yourself.

 

[ForexCrusader]

I think there's no better mental preparation for trading than having a solid plan and a clear reason to enter a trade.